Imminent bitcoin expansion

Imminent bitcoin expansion


Beijing time on September 26th morning, the core bitcoin developer GavinAndresen tweets said:

The total number of nodes in the network over Ethernet Fang bitcoin. When the block size prediction: Ethernet square chain over bitcoin, Ethernet square project leader will continue to smooth transition.

Block chain startup VeChainCTO, Chinese Academy of Sciences Dr. Shuai explained: at the beginning of the computer it is suggested that bitcoin network expansion has brought a lot of problems, but also predicted higher degree. Bubbe block chain Yang Fan said, no new service node, bitcoin is restrained, and the ecological community and the etheric Fang will gradually enlarge.

The bitcoin network depends on the size of the blocks, each block has a block size of 1MB, the current processing capacity is about 200 thousand transactions. In recent years, with the rapid development of bitcoin, bitcoin transactions are increasing in number, so the block free space is more and more small. In May 2015, GavinAndresen said the imminent bitcoin network problems, and puts forward the mode of branching through hard bitcoin, will raise the upper limit of block size to 20MB, scheduled for UTC March 1, 2016.

However, by 2016, the proposed expansion plan is not up to the same camp. TheVerge3 reported that bitcoin trading volume growth has brought tremendous impact to the network. Because the network processing capacity reached the limit, leading to worldwide large-scale transaction is delayed, part of the transaction or even fail completely. The average time required to confirm transactions surged from 10 minutes to 43 minutes.

GavinAndresen said that if the number of transactions for enough, the end result will be a saturated network, but will not produce what Xiamang live. “I think it might make people stop using bitcoin, because the transaction confirmation will become more and more reliable.” Because of this, a wave of thread laugh guess: GavinAndresen is not ready to turn.

However, the etheric Fang is also facing the same problem, before the date of the etheric Fang founder Vitalik published a purple book, discusses the possibility of Ethernet square expansion, but in fact, the early Shuai pointed out that at present the etheric workshops also have a mature work plan, expansion of the problem still can not be ignored.

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